J.B. Hunt shares plunged more than 10% on Wednesday after the trucking company said it expects its earnings to drop in the third quarter. CFO Brad Delco said at the Morgan Stanley Industrials conference that earnings are expected to fall 5% to 10% from Q2 to Q3. The company projects approximately $25 million in additional costs related to recruiting, advertising, onboarding, training and sign-on bonuses. Fuel price volatility and record-high diesel prices are also creating at least a $10 million headwind. Despite these challenges, J.B. Hunt stock has risen nearly 100% over the past year.
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